Referred to as either Income protection or PHI (Permanent Health Insurance) this policy is designed to provide an income in the event that you are unable to work due to ill health or through accidental injury.
You could receive a tax-free income (under current tax rules) until you are well enough to return to work, or until you retire if you do not recover. The level of premium will depend upon the amount of benefit and term selected. Typically most plans are written to retirement age and cease to pay the benefit once the insured is able to return to work.
Book a free appointment with one of our expert Protection advisers now to help you plan for life’s uncertainties. Use the handy online booking calendar or get in touch through our contact page.
Information regards taxation levels and basis of reliefs are dependent on current legislation, individual circumstances are not guaranteed and may be subject to change